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Prime Minister Abe Received the ABAC 2015 Report to APEC Economic Leaders

On November 9, 2015, the Japanese members of the APEC Business Advisory Council (hereinafter referred to as “ABAC”) visited Japanese Prime Minister Shinzo Abe and directly handed him the ABAC 2015 Report to APEC Economic Leaders. The report proposes a broad range of recommendations including the prompt completion of Trans Pacific Partnership (TPP) negotiations, the realization of the Free Trade Area of the Asia-Pacific (FTAAP), the promotion of efforts made for the service sector, the internationalization of micro, small, and medium enterprises (MSMEs), the facilitation of MSMEs’ access to finance, and the acceleration of infrastructure development. The Ministry of Economy, Trade and Industry (METI) will make further efforts to address these issues.

ABAC is APEC’s official advisory council, established in 1996. Representing the business sectors in the Asia-Pacific region, it annually releases the Report to Leaders and holds dialogues between ABAC members and APEC leaders, taking advantage of the opportunity presented by the APEC Economic Leaders’ Meeting. ABAC members are representatives from the business sectors of the 21 economies participating in APEC. Three representatives from Japan have been appointed by the Prime Minister as ABAC members.

As the year 2015 recommendations from ABAC had been compiled into a report, ABAC members directly handed it to Prime Minister Abe on November 9, 2015, in advance of the APEC Ministerial Meeting to be held in Manila, Philippines from November 16 to 17 and the APEC Economic Leaders’ Meeting to be held in the same location from November 18 to 19. The major recommendations in the report this year are as follows (refer to the news release from ABAC Japan (in Japanese)):

  • Regional economic integration (realizing FTAAP, promoting efforts made for the service sector, etc.)
  • MSMEs and entrepreneurship (enhancing the internationalization of MSMEs, promoting supply chain finance, fostering innovation, enhancing women’s economic participation, etc.)
  • Connectivity (accelerating infrastructure development, strengthening supply chain connectivity, etc.)
  • Sustainable development (increasing energy security, promoting environmental goods and services, etc.)
  • Finance and economics (encouraging infrastructure finance and investment, developing disaster risk financing, etc.)

METI will endeavor to steadily resolve the significant challenges mentioned in the 2015 Report in part by taking advantage of the opportunities presented by the APEC meetings.

Appendix: News release from ABAC Japan(PDF:962KB) PDF File

Release date

November 9, 2015

Division in charge

APEC Office, Trade Policy Bureau

Related Information

APEC

Ministry of Economy, Trade and Industry
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